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Uzbekistan allows selling unused state property without price estimation

Uzbekistan allows selling unused state property without price estimation
12:06 12-10-2018 | icon 21

Baku, Azerbaijan, Oct. 12

Trend:

Shavkat Mirziyoyev allowed selling empty state-owned real estate properties without estimating their value by putting them up for auction on the E-IJRO AUKSION electronic trading platform at a starting price equal to 1 soum, Uzbek media reported referring to the presidential decree.

The only condition for the buyer is taking certain investment and social obligations.

At the same time, a number of state-owned objects can be transferred to entrepreneurs only on the terms of a public-private partnership, in which the relevant ministry or agency acts as a state partner.

These facilities include educational institutions, including preschool, health and sports facilities, and culture, including cinemas, clubs, concert and entertainment objects..

However, this requirement does not apply to vacant state-owned real estate facilities that are not used by activity profile, for which organization of a public-private partnership is considered impractical by the relevant ministry or agency.

Another important point is that heads of the regions received the right to provide land plots and sell empty state-owned real estate facilities without holding an auction through direct negotiations with the buyer for implementation of investment projects with investment (worth at least $1 million) and social obligations.

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